In order to create ringtones with GarageBand from your favorite songs, you need to have an iPhone, a Mac as well as the latest version of GarageBand and iTunes. If you have all of that, you will be able to make 40-seconds ringtones from any song that you have in your iTunes library. The following steps will guide you through the entire process:

1. Lunch iTunes on your computer.
2. Now start the GarageBand app.
3. Choose New Music Project if this is the first time you're using the app.
4. Next, click on Create and enter a name for your project.
5. Select all tracks from the GarageBand workspace, if any and click Track -> Delete Track if you want to start fresh.
6. Now you have to drag and drop from iTunes to GarageBand the song that you want to edit.
7. Next, click on the Cycle Region button – it looks like a circle made up of two arrows – to turn on the cycle feature.
8. Now you will see a yellow region at the top of the screen. That region is what will later become your ringtone.
9. In order to create your ringtone, you just have to drag the beginning and the ending points of the yellow region to where you want your ringtone to begin and end.
10. To play the selected region hit the Space bar.
11. Continue to adjust the beginning and ending of the cycle region until you have the ringtone that you want.

Note: Normally, the length of your ringtone can only be 40 seconds long, so choose a section that will sound good when it repeats.

12. Once you’ve decided on the ringtone, simply click on Share -> Send Ringtone to iTunes. The GarageBand app will convert the song to the .m4r format and will save it to your iTunes library.
13. Now you only have to Sync your iPhone 5 to iTunes to upload it.

Congratulations, you have just created your first ringtone!

See More: Create Ringtones for iPhone 5 with GarageBand – Step by Step Tutorial